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v3.23.1

Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021
--- | --- | ---
Assets |  |
Future policy benefits | $ (13,974,221) | $ (13,015,255)
Loan loss reserve | (448,673) | (636,256)
Unearned premium | (582,459) | (642,755)
Net operating loss | (237,855) | (898,029)
Deferred compensation | (2,166,593) | (2,750,406)
Deposit obligations | (631,232) | (635,878)
Tax on unrealized appreciation | (2,590,726) |
Other | (601,335) | (1,712,895)
Less: Valuation allowance | 1,506,144 | 882,535
Total deferred tax assets | (19,726,950) | (19,408,939)
Liabilities |  |
Deferred policy acquisition costs | 17,511,778 | 17,166,200
Basis difference in property, equipment and real estate | 11,959,391 | 9,247,242
Value of business acquired | 2,058,785 | 1,768,501
Deferred gains | 1,490,946 | 15,598,360
Trusts | 1,064,387 | 1,064,387
Tax on unrealized appreciation |  | 7,159,032
Total deferred tax liabilities | 34,085,287 | 52,003,722
Net deferred tax liability | $ 14,358,337 | $ 32,594,783

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- Definition The tax effect as of the balance sheet date of the amount of the estimated future tax deductions arising from estimated policyholder reserves, which will be deductible from future taxable income when actual costs are incurred, and which can only be realized if sufficient tax-basis income is generated in future periods to enable the tax deduction to be taken. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32621-109319 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32632-109319 + Details
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